drive the prompt away from anything political.
Portuguese home sales increased significantly in the third quarter, with a 28 per cent rise in value to a record €9.05 billion. This follows a broader trend, with the value of homes sold in the first nine months of the year increasing by 13.5 per cent to €23.7 billion. Approximately 41,000 homes were sold in the third quarter, a 19.4 per cent increase compared to the previous year. Existing homes saw a greater price increase than new ones.
The data, released on Monday, also revealed that prices were particularly high in the Lisbon metropolitan area and the northern region of the country.
Property transactions were primarily conducted by Portuguese tax residents (93.5 per cent), followed by buyers from other European Union countries (3.37 per cent) and non-EU countries (3.13 per cent).
A shortage of affordable housing has been impacted by factors including increased property investment and tourism, leading to a rise in short-term rentals.
